Market Overview for Venus/Tether (XVSUSDT) on 2025-10-10

• Price surged 9.3% over 24 hours, forming a bullish breakout above 7.0.
• RSI hit overbought territory (76), suggesting potential short-term correction.
• Volume spiked during 11:30–12:00 ET, confirming bullish momentum.
• A bullish engulfing pattern emerged at 6.96–7.02.
• Bollinger Bands showed a recent expansion, indicating rising volatility.

The Venus/Tether (XVSUSDT) pair opened at 6.82 on 2025-10-09 at 12:00 ET and closed at 6.51 on 2025-10-10 at 12:00 ET, reaching a high of 7.26 and a low of 6.50. Total volume for the 24-hour period was 211,150.00, with a notional turnover of $1,438,833.81. The pair exhibited a strong upward move early, followed by a sharp pullback in the afternoon.

Structure & Formations

The 24-hour chart revealed a key resistance cluster around 7.0–7.1 and a support level near 6.95–6.96. A bullish engulfing pattern formed near 7.01–7.02 around 01:15–01:30 ET, signaling a potential reversal. A morning rally from 6.96 to 7.26 was followed by a bearish evening pullback that closed at 6.51. A long bearish shadow at 15:45–16:00 ET suggested exhaustion of bullish momentum.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed above key resistance levels, confirming bullish momentum until midday. By 14:00–15:00 ET, the 20SMA dropped below the 50SMA, forming a bearish crossover. On the daily chart, the 50- and 100-period moving averages showed price above both, indicating long-term bullish bias, but the 200SMA acted as a key resistance zone during the afternoon sell-off.

MACD & RSI

The MACD crossed above the signal line early morning, confirming bullish momentum, but crossed back below it after 11:30 ET. RSI surged to 76 during the morning high, indicating overbought conditions, and dropped sharply to 29 by 16:00 ET, suggesting oversold conditions. These divergences hint at exhaustion in both bullish and bearish moves.

Bollinger Bands

Bollinger Bands expanded during the morning rally, indicating rising volatility, while the afternoon pullback saw price fall below the lower band, signaling oversold conditions. This suggests a potential short-term bounce from 6.50–6.51, though the widening bands imply continued price uncertainty.

Volume & Turnover

Volume spiked during the morning rally, especially between 10:15–12:00 ET, confirming strong buying pressure. However, the afternoon sell-off saw volume also rising, indicating profit-taking and short-term bearish sentiment. Notional turnover was higher during the bullish phase than during the bearish phase, suggesting stronger conviction in the upward move.

Fibonacci Retracements

Applying Fibonacci levels to the morning swing from 6.96 to 7.26 showed a 38.2% retracement at 7.09 and a 61.8% retracement at 7.02, which held briefly before the pullback. On the bearish leg from 7.26 to 6.51, 38.2% was at 7.01 and 61.8% at 6.85, both of which were tested but not held.

Backtest Hypothesis

The backtest strategy evaluates a breakout and pullback pattern, where a bullish engulfing pattern forms near a key resistance level (7.01–7.02) followed by a sharp reversal. This pattern is typically a signal for a short-term correction or consolidation. The strategy would enter a short position at the close of the bearish engulfing candle at 15:45–16:00 ET and set a stop-loss above the recent high of 6.97. A target would be placed at 6.77, aligning with prior support and the 61.8% Fibonacci level. This setup could be validated by checking historical performance of similar patterns on the 15-minute chart for Venus/Tether.

Given the current overbought RSI and bearish engulfing patterns, price could consolidate or retest key supports over the next 24 hours. Investors should monitor the 6.77–6.81 range for potential rebounds or a deeper correction. Volatility remains high, and a break below 6.65 could open the path to 6.50–6.5.